Westlake Town Council adopted the budget for Fiscal Year 2015-2016 on Sept. 21. The annual operating budget of $32 million includes several capital projects along with Westlake Academy. This year’s budget theme, “Forging Westlake, Writing the Next Chapter,” is titled after the Town’s updated Comp Plan that was adopted in March after an 18 month period of extensive community involvement and input.
Budget numbers reflect great news for residents. The adopted ad valorem tax rate per $100 of assessed valuation will remain the same as the 2014-2015 tax rate of $.15634 - the lowest town/city rate in Collin, Dallas, Denton, and Tarrant Counties!
Highlights of this year’s budget include market adjustments for staff members, and additional staff including a full-time firefighter paramedic, and two part-time employees to be hired mid-year pending sales tax revenue. Capital projects include a fire station complex, a traffic signal on FM 1938 at Dove Road, and a reconstruction/drainage project on Dove Road.
The Town of Westlake is in the vortex of one of DFW’s most desirable executive housing corridors in the Metroplex located along Texas 114. The Comp Plan estimates a large population increase for the Texas 114 corridor, including Westlake, which is projected to be almost 250,000 residents. Growth projections of this magnitude require that Town staff plan, be proactive, and prudent in decision making, all while continuing to offer the high quality services Westlake currently enjoys.
“Our goal is to maintain our position as a premier community,” said Town Manager Tom Brymer. “Forging Westlake and ‘writing our next chapter’ in a manner that honors our past but embraces our future so we can sustain our quality of life, is the challenge we face in the FY15-16 Budget.”
Budget at a Glance
✓ FY 2015-16 budgeted expenditures total $32 million for all funds.
✓ Fund balance shows a 28.6 percent increase from the FY 2014-15 estimated budget, which includes
$1.8 million transfers-in from fund balance.
✓ Operating needs total $6.4 million with capital project transfers at $5.6 million.
✓ The entire budget can be found here.